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Notes to Accounts of Eduexel Infotainment Ltd.

Mar 31, 2014

Note 1 Other Disclosures

1.1

a) Balances in Loans and advances, TDS certificates Receivables / Recoverable, Advance from customers, Sundry Creditors, Advances from Customers and Sundry Debtors are subject to reconciliation, confirmation and consequential adjustments, if any. However it is to be noted that no movement in Sundry Debtors or Sundry Creditors has been observed during the year as such we doubt the recoverability or the payments of the same. However the management is confident that they would be able to recover the same.

b) It is also observed that there has not been any discernible movement visible in the movement of Non Current Assets, Current Assets and Non Current Liabilities and Current Liabilities.

1.2 The company has not made any deposits at the Balance Sheet date to the Investors Education and Protection Fund.

1.3 There are no delays in payments to Micro and Small Enterprises as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006. The above information and that given in Schedule 11 "Current Liabilities" regarding Micro and Small Enterprises has been determined to the extent such parties have been identified on the basis of information available with the company. This has been relied upon by the auditors

1.4 Deferred Tax

In compliance with the AS 22 on "Accounting for taxes on Income" issued by the Institute of Chartered Accountants of India, the company has provided necessary Income Tax as applicable in accordance with provisions of the Income Tax, 1961. The Company has not recognized Deferred Tax Asset /Liability during the year.

1.5 Additional information pursuant to paragraphs 5 (viii) of Part II of Schedule VI to the Companies Act, 1956 are follows:

Comparatives:

Comparative Financial information, presented in accordance with the Corresponding Figure Financial Reporting Framework set out in Auditing and accounting Standards AS 25 on "Comparatives Figures of the Previous Year" issued by the Institute of Chartered Accountants of India, have been regrouped and reclassified wherever necessary to correspond to Figures to the Current Year as per New Schedule VI.

As per our report of even date annexed hereto.


Mar 31, 2013

A) Balances in Loans and advances, TDS certificates Receivables / Recoverable, Advance from customers, Sundry Creditors, Advances from Customers and Sundry Debtors are subject to reconciliation, confirmation and consequential adjustments, if any. However it is to be noted that no movement in Sundry Debtors or Sundry Creditors has been observed during the year as such we doubt the recoverability or the payments of the same. However the management is confident that they would be able to recover the same.

b) It is also observed that there has not been any discernible movement visible in the movement of Non Current Assets, Current Assets and Non Current Liabilities and Current Liabilities.

c) The company has borrowed deposits from an individual in violation of provisions of s.58A of the Companies Act 1956.

1.1 The company has failed to deduct and deposit tax deducted at source..

1.2 The company has not made any deposits at the Balance Sheet date to the Investors Education and Protection Fund.

1.3 There are no delays in payments to Micro and Small Enterprises as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006. The above information and that given in Schedule 11 "Current Liabilities" regarding Micro and Small Enterprises has been determined to the extent such parties have been identified on the basis of information available with the company. This has been relied upon by the auditors

1.4 Deferred Tax

In compliance with the AS 22 on "Accounting for taxes on Income" issued by the Institute of Chartered Accountants of India, the company has provided necessary Income Tax as applicable in accordance with provisions of the Income Tax, 1961. The Company has not recognized Deferred Tax Asset /Liability during the year.


Mar 31, 2012

Terms / right attached to equity shares

The Company has only one class of ordinary shares having par value of Rs.10 each. Each holder of equity shares is entitled to one vote per share. The shares do not enjoy any preferential rights or bear any restrictions with regard to distribution of dividend or repayment of capital in proportion to their holding.

1. Other Disclosures

1.1 The Financial Statements for the year ended 31st March, 2012 are prepared as per Revised Schedule VI to the companies Act 1956. Accordingly, the previous period figures have been reclassified to conform to this year classification. The adoption of revised Schedule VI for the previous period figures does not impact recognition and measurement principles followed for preparation of Financial Statements

a) Balances in Loans and advances, TDS certificates Receivables / Recoverable, Advance from customers, Sundry Creditors, Advances from Customers and Sundry Debtors are subject to reconciliation, confirmation and consequential adjustments, if any.

b) In the opinion of the management, the value of Current Assets, Loans and Advances, on realisation in the ordinary course of business, will not be less than the value at which these are stated in the Balance Sheet.

1.2 In the opinion of the Board, the Current Assets, Loans and Advances are stated at approximately of the value so stated if realized in the ordinary course of business, except unless stated otherwise. The Provision for all known Liability is adequate and not in excess of the amount considered reasonably necessary.

1.3 The company has not made any deposits at the Balance Sheet date to the Investors Education and Protection Fund.

1.4 There are no delays in payments to Micro and Small Enterprises as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006. The above information and that given in Schedule 11 "Current Liabilities" regarding Micro and Small Enterprises has been determined to the extent such parties have been identified on the basis of information available with the company. This has been relied upon by the auditors

1.5 Deferred Tax

In compliance with the AS 22 on "Accounting for taxes on Income" issued by the Institute of Chartered Accountants of India, the company has provided necessary Income Tax as applicable in accordance with provisions of the Income Tax, 1961. The Company has not recognized Deferred Tax Asset /Liability during the year.

Comparatives:

Comparative Financial information, presented in accordance with the Corresponding Figure Financial Reporting Framework set out in Auditing and accounting Standards AS 25 on "Comparatives Figures of the Previous Year" issued by the Institute of Chartered Accountants of India, have been regrouped and reclassified wherever necessary to correspond to Figures to the Current Year as per New Schedule VI.


Mar 31, 2011

I Sundry Creditors - Others includes:

a) Total outstanding Dues of Micro, Small & Medium Enterprises (SME)** - Nil

b) Total outstanding Dues of creditors other than SME - Rs. 17,19,71,848/-

**Based on the information available with the Company in respect of Micro, Small & Medium Enterprises (as defined in The Micro, Small & Medium Enterprises Development Act, 2006). The Company is generally regular in making payments of dues to such enterprises. Hence, the question of payments of interest or provision therefore towards belated payments does not arise.

II Payments made to/on behalf of Managing Director: Nil

III. Additional information under Part II of Schedule VI of the Companies Act, 1956

The companys activity comprises of content development for telecast on Television, production of feature films, distribution of telecast rights for films and serials, etc. Hence reporting on installed capacity, production, turnover and related quantitative particulars, data on consumption of raw materials does not arise.

IV. Foreign Exchange Earnings -Nil

V . Foreign Exchange outgo - Nil

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